How to apply pan card for business | The complete information

PAN card is necessary for everyone starting a business in India to pay taxes, file returns, get TDS and tax refunds. Therefore, here is everything you need to know about how to apply PAN card for business.

In fact, a PAN card is also essential for running trusts, associations, firms, and companies.

Without a PAN, no one can submit tax or are eligible to file returns.

Ever since the implementation of GST, PAN card has become mandatory for all types of business, big or small.

What is a Business PAN Card?

Before learning how to apply PAN card for business, let us have an overview of a business PAN card.

The term of the PAN is the Permanent Account Number.

It is a unique identity card considered very important in any financial transaction.

PAN Card is not only made for any person but, it is also for business, industry, department, government, ministry, integrated, and other organizations.

The essential document asked for while filing tax is a PAN card.

Most importantly, one must apply for a business PAN Card while doing the company registration process.

Steps to get PAN card for Business

Step 1:

Visit the onlineservices.nsdl website and fill in all the mandatory details in the form.

Step 2:

Select PAN card for Individual and Select Category from the following depending on your business structure.

Step 3:

Read the Guidelines thoroughly before checking I accept.

Ensure that all the information and spelling are correct to the full extent.

Because the information given by you will be printed on the certificate and you will be solely responsible for any mistakes.

Therefore, take help from an expert to carry out the complete registration process on your behalf instead of doing it yourself.

Let them do what they are best at, and you do what you are an ace at.

Step 4:

Submit the form and proceed to the payment gateway.

Fees of Business PAN Card Registration

• Fees: Rs. 107
• E-sign charges Rs. 5.90

For an online PAN card, you can pay by net banking, credit and debit card.

If you are getting a PAN card processed from any centre physically, you can pay in cash.

Step 5:

Make the payment and wait and sit back.

You will receive your PAN card for business in 2-3 days after successfully applying with all the mandatory documents.

Documents required for business PAN card

• Certificate of Incorporation (COI)
• Certificate of Business Registration
• Copy of AoA (Article of Association) and MoA (Memorandum of Association)
• Copy of Address Proof
• DOB Certificate
• Identity Proof

Guidelines for Physical PAN Application

• Fill up the form in block letter and black pen only.
• The form should be signed only by the CEO of the company.
• You can also apply for a PAN card through an agent.
• PAN card fees can be paid by bank draft, credit card and deposits through net banking.

Guidelines for Online PAN Application

Everything is going online in Digital India. The government is also talking about online transactions.

If you are still relying on the manual system, you may have to fall behind somewhere. If you use net banking, NEFT, credit, debit card, you must fill the KYC form.

After filling the KYC, you are on the safe side. Because in this PAN and Aadhar number merges together.

Both the numbers are uniquely allotted to the same person.

So when you fill the KYC form, your PAN number is matched on the online transaction.

So make sure to complete the KYC. There is no other way you have to complete the KYC.

Online application

NSDL is a website. People can apply for a PAN card by visiting this website.

Whether you want to apply for a new card or get some correction done in the card already created, NSDL will help you in every way.

It is an official website, which also helps the Income Tax Department.

To make the PAN card more unique, the Income Tax Department had directed to develop an online system, after which the government has created this website.

The essential thing is that this website helps you both online and offline.

If you want to make an offline PAN card, you can visit this site and

download the form.

After filling, submit the form to the office of the local agency. After this, the PAN card will reach your home within a few days.

Apart from this, any information regarding tax and TIN can also be checked from the website.

Fill up the form 49-A

There are two forms for PAN cards 49-A and 49-AA. Both of these work on different terms and conditions.

Indian people applying for PAN cards will have to fill Form 49-A, while the foreign company operating in India will have to fill Form-AA.

Whether applying for a new PAN card or reprint, Indian people have to fill Form 49-A only.

A similar form will also have to be used by NRIs. To clarify, people Indian by origin and living abroad in connection with work will also have to fill the same form.

PAN card is necessary for those living in India and paying taxes.

PAN card is also essential to file returns, get TDS, and refund.

Contact an Agent

Making a PAN card has also become easy.

You can apply for the card on the NSDL website.

Also, many agencies have been professional with this work at the district level.

It is working to make PAN cards for the people.

The process has to go through for correction as well.

You can also get a duplicate PAN card. If the card is lost or misplaced, you can get a duplicate card by contacting the local agencies.

Who needs a PAN Card?

A PAN card is necessary for every person in India who wants to start a business.

• Corporate company
• LLC
• LLP
• Partnership
• Sole proprietors
• Trust
• Incorporation
• Limited company
• Private firm
• Association
• Foreign Institution Investors
• Local authority

Not only businesses, but an individual should also have a PAN card to be a legal taxpayer citizen of India.

It can also help you with Income Tax purposes and many other KYC forms.

Why do companies need a PAN Card?

• The government of India has made PAN cards mandatory for all those who want to run a company.
• If you do not have a PAN card, the government can collect tax from you up to 30 per cent.
• You will get benefit from having a PAN card. PAN card helps you in Income Tax Return
• Similarly, a PAN card is also mandatory for refund, TDS, and tax deposits.
• The Income Tax Department believes that filing returns with a PAN number becomes easy.
• If the department needs any scrutiny, then the history of taxpayers can be searched based on PAN number.
• Taxpayers living in any city or state and depositing tax can be traced.

Conclusion

It is how to get a PAN card for business without any hassle. A PAN card is mandatory for the banks to open an account.

Therefore, anyone above the age of 18 should apply for a PAN Card instantly.

Further, if you are planning to start a business you will need a business PAN card because after registrations a business and a person are two separate identities.

Also you can start your own gaming business if you are interested in the sector. Here you can read to know how to start a gaming company and make it successful.